According to a Reuters survey, investors have sharply reduced bearish bets on the South Korean won as the country seeks to expand its foreign-exchange market, trade performance remains strong, and sentiment toward the won improves. A two-week survey of 10 respondents found won short positions at a five-month low, while bearish bets on the Thai baht and the Taiwan dollar rose to a multi-month high.
Multiple factors have strengthened market participants' confidence in the won, including the launch of 24-hour onshore spot trading for the U.S. dollar against the won, strong AI chip exports supporting an economic recovery, and tighter monetary policy. Japan's Sumitomo Mitsui Banking Corporation Asia macro strategist Jeff Ng said the won's confidence has also increased as South Korean authorities open the foreign-exchange market, and that South Korea's strong trade performance may also drive capital inflows.
Asian Investors Cut Won Bearish Bets as Chip Optimism Improves Sentiment
2026-07-23 08:45:47
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